GRAPEVINE, Texas — Read this story and more North Texas business news from our partners at the Dallas Business Journal
The developer behind the 160-acre Lakeside Village in Flower Mound has reached an agreement with Marriott International Inc. to bring a luxury hotel that will connect to an office along Lake Grapevine.
Realty Capital Management LLC, the developer behind the $2 billion Lakeside Village development, will bring an Autograph Collection Hotel and Residences. The 12-story, 181-room hotel will also have 21 condos on the top three floors. The hotel's amenities include a rooftop pool, spa, private yacht and a restaurant and bar.
"This hotel will be unlike any other hotel in Dallas-Fort Worth," Jimmy Archie, managing director with Realty Capital, said in a statement. "Guests have the opportunity to stay at an in-town, luxury resort with beautiful lake views, walk to lakefront restaurants, take a morning stroll on the Lakeside Boardwalk, hike or bike on the 22-mile North Shore Trail, play 45 holes of golf at the Cowboys Golf Club and the Grapevine Golf Course, enjoy a concert in the amphitheater and attend a board meeting at the adjoining office building."
Flower Mound approved a Chapter 380 incentives deal to make the hotel and office project a realty. The $230 million development includes the hotel at 3301 Sunset Boulevard, a 155,000-square-foot office building and a private social club called Eden Roc. Construction is expected to start in 2025.
Coury Hospitality will manage the hotel, which is the largest operator of Autograph Collection Hotels in the U.S. with six properties in its portfolio. JLL is assisting in leasing and obtaining financing for the hotel and office buildings.
"Businesses continue to focus on creating inspiring places and use their real estate as a showcase to project their brand image, drive collaboration, accelerate productivity and help recruit and retain employees," Jeff Eckert, president of JLL Americas Agency Leasing, said in a statement. "Office tenant demand has been heavily concentrated in buildings that are new or renovated offering premium amenities, such as engaging communal spaces, dining options, fitness centers, private clubs, balconies, terraces and other outdoor spaces."
Lakeside Village is in the final phase of its 160-acre mixed-use development. It includes more than 40 stores and restaurants, 1,297 multifamily units, 61 condos and 165,000 square feet of office space. According to past Dallas Business Journal reporting, when initial plans for Lakeside were revealed in 2012, the project had an estimated cost of $1 billion.
Last year, Realty Capital partnered with builder Corey Van Trease to bring luxury homes to the Lakeside Village community with prices starting at $2 million. Realty Capital Residential, a 16-story, 207-unit multifamily tower, is set to open in January 2025.
Realty Capital is also planning a 21-acre expansion called Lakeside East, which would include 350 luxury rental residences and parking, a four-story office building and a "high-caliber brand" hotel.
